Economic insecurity and pension participation in Ghana’s music sector

Economic insecurity represents an existential threat to many workers, not least those in the Creative and Cultural Sector (CCS). Based on recent survey data from Ghanaian musicians gathered between April 2022 and March 2023, this paper presents indicative findings which demonstrate a persistent pension savings gap, with only about one in seven musicians in the sample (14.6%) reporting participation in a pension scheme – explained by both demand-side reasons (i.e. indecision about enrolment, not having the financial wherewithal to contribute regularly or not knowing about existing pension schemes) and supply-side reasons (i.e. limited pension options developed with the involvement of musicians). The paper also finds that while education level, age, location, and marital/family status appear to be important factors, in relative terms, there was little evidence to suggest that any group was more likely than the other to participate in a pension scheme. To improve pensions uptake, the paper argues that a long overdue, deliberate policy strategy should involve piloting a dedicated group personal pension scheme for musicians and testing savings commitments in the case of voluntary schemes over the long term and short term, respectively, with both going hand in hand with pension literacy programmes and incentives, wherever necessary.